explain and help

There is only one restaurant on Vacation Island. The table on the next page shows the number of meals the restaurant will sell, depending on the price it charges, and what it will cost the restaurant to produce the meals. Based on the information in this table, how many meals will the restaurant produce and what price will they charge for the meals? Show your calculations and explain your answer. Price Quantity Total Cost $175 0 $100 $150 10 $700 $125 20 $1,300 $100 40 $2,800 $75 70 $6,000 $50 110 $13,400 $25 160 $30,400 There are only two firms competing in a market. Each firm is trying to decide if they should cooperate with the other to limit the amount they are producing and increase their profits. They each need to decide if they are going to cooperate or not. The payoff matrix below shows the profit that each firm will make, depending on which action they choose. Firm A Cooperate Not cooperate Firm B Cooperate $20,000 $22,000 $20,000 $12,000 Not $12,000 $14,000 cooperate $22,000 $14,000 Based on the payoff matrix above, how much profit will each firm earn in this market? Explain Why is advertising important in a monopolistically competitive market? . Give an example of a negative externality. Explain why your example is an externality. Explain why, with a negative externality, the market tends to produce more of these products than society prefers to have. In microeconomics, what is a public good? Give an example of a public good and explain how your example fits the definition of a public good. Neoclassical economics assumes that people act only in their own self-interest, that they are always perfectly rational, and that they always have full information when they make economic decisions. Is this a good description of human behavior and decision-making? Give examples from your own life